Kang Jian Information Technology (Shenzhen) Co., Ltd. (Kang Jian) entered into the 2024 Services Purchasing Agreement with Ping An Insurance (Group) Company of China, Ltd. (Ping An) on 19 March 2024, pursuant to which Ping An shall provide certain services to the Group, including financial services, administrative services, risk control services and human resources services. The term of the 2024 Services Purchasing Agreement commences on 19 March 2024 and ends on 31 December 2024. The service fees payable by Kang Jian to Ping An under the 2024 Services Purchasing Agreement are estimated to be RMB 6.62 million, which will be paid in four equal instalments (subject to the final actual settlement amount).

The Company has been purchasing various services from Ping An to fulfill its business and operational needs since its establishment. As a result of the strategic business relationship, Ping An has a comprehensive understanding of the Group's business and operational needs and has established a foundation of mutual trust. Considering the past experience in purchasing from Ping An, the Group is of the view that stable and quality services provided by Ping An can effectively and reliably meet the Group's needs, and entering into the 2024 Services Purchasing Agreement will minimize the disruption to the Company's operations and internal procedures.

The service fees payable under the 2024 Services Purchasing Agreement are determined on a cost-plus basis (i.e., cost plus a mark-up rate of 5%), and the profit margin is in line with the prevailing market price as assessed by an independent third party professional entity, and taking into account the factors such as the number and level of seniority of personnel required to provide relevant services by Ping An, the professional skills and responsibilities involved, and the resources required to complete the work. For each of the three years ended 31 December 2023, the transactions between the Group and Ping An for the above purchasing services amounted to RMB 10.03 million, RMB 7.26 million and RMB 6.9 million, respectively, which were conducted under the 2020 Services Purchasing Framework Agreement.